The lawsuit, filed by the Rosen Law Firm, claims that ChampionX suppressed its stock price during the class period by withholding news of unsolicited acquisition bids from Schlumberger Limited. According to court filings, Schlumberger proposed to buy ChampionX shares for $36.70 on February 29, 2024, and subsequently increased that offer to $37.80 on March 7. The complaint alleges that while these offers remained confidential, ChampionX continued to repurchase its common stock at market prices averaging $33.32, effectively trading against its own shareholders. The merger with Schlumberger was eventually made public on April 2, 2024, and finalized on July 16, 2025, at a price of $40.58 per share.

Investors who suffered losses exceeding $100,000 are encouraged to contact Phillip Kim at the Rosen Law Firm to discuss the litigation. Participation as a lead plaintiff is optional, and investors may choose their own counsel or remain absent class members. No class has been certified at this time, meaning investors are not currently represented by any firm unless they specifically retain one. Further information is available through the firm’s website or by calling 866-767-3653.